Pic: Rommel Gonzalez / EyeEm / EyeEm via Getty Images
Director Trades: Who’s buying and who’s selling their own stock?
Director Trades
share
The founder of telco Over the Wire sold out this week.
Brent Paddon sold $4.6m worth of stock, reducing his shareholding in the company from 30 per cent to just over 24 per cent.
Shares in the cloud computing provider (ASX:OTW) are at all-time highs, following a one-day 21 per cent jump in August after they produced a stellar set of financial results.
The share price has just kept moving upwards and Mr Paddon sold at $4.60 — just under the Friday closing price of $4.90.
>> Scroll down to find out who the movers and shakers were last week.
The youthful Dongfang Modern Agriculture (ASX:DFM) chairman, Hongwei Cai, has bought in again, making this his 10th (massive) purchase in the company this year.
This week he sank $3.8m into the China-focused citrus grower.
Mr Cai, who is in his early 30s, owns 65 per cent of the company.
Notable moves
Mining identity Klaus Eckoff has just secured 80m performance rights from Lachlan Star (ASX:LSA).
The four tranches of rights will be converted to shares if the share price reaches benchmarks between 2.5c and 6.5c.
The stock is currently sitting at 1c.
Spitfire Material’s (ASX:SPI) Neil Biddle is slowly creeping up to the 20m share mark, a point he told Stockhead early in 2018 he wanted to reach.
“I always wanted to have about 20 million shares… because my associates in the company have around that number… and I want to be supportive of the company.”
It’s been slow going though — he’s still only at 18.8m shares.
Tamawood founder Lev Mizikovsky bought in twice last week, although one was sub-$100,000.
In total, he spent $404,000 on his Brisbane-based building company.
Forced sales
Gas2grid (ASX:GGX) director Patrick Sam Yue took out a $195,000 loan from the company in 2013 to buy shares in it.
But this week, the company took back all 6.5m of those shares because he wasn’t able to repay the loan by its deadline.
Unfortunately too, the stock in 2013 was worth between 3c and 4c. Since then Gas2grid hasn’t done too well, with its shares on a long downhill trajectory to the 0.5c it ended up at on Friday.
Jonathan Stretch’s charitable trust was selling out of ERM Power (ASX:EPW) for the second week in a row.
It says it’s selling for “governance management of concentration risk for investment portfolio”.
| ASX code | Company | Director | Change | Date | Volume | $ | Where | Total holdings controlled |
|---|---|---|---|---|---|---|---|---|
| RMY | RMA Global | David Williams | Buy | Nov 23, 26, 27 | 621,868 | 134463 | On market | 111m |
| AQD | AusQuest | Christopher Ellis | Buy | Nov 22 | 20.2m | 404786 | Converting convertible note | 124.7m |
| CLV | Clover Corp | Rupert Harrington | Buy | Nov 26 | 100,000 | 134241 | On market | 433,751 |
| DFM | Dongfang Modern Agriculture Holding Group | Hongwei Cai | Buy | Nov 22 | 4m | 3840000 | On market | 274.4m |
| EML | EML Payments | Tony Adcock | Sell | Nov 20-21 | 184,593 | 276391 | Off market | 50,000 |
| TWD | Tamawood | Lev Mizikovsky | Buy | Nov 23 | 91,242 | 329545 | On market | 12.4m |
| PSQ | Pacific Smiles | Alexander Abrahams | Buy | Nov 16-21 | 154,000 | 208820 | On market | 38m |
| EPW | ERM Power | Jonathan Stretch | Sell | Nov 26-28 | 115,000 | 196639 | On market | 2.7m |
| OTW | Over the Wire | Brent Paddon | Sell | Nov 27 | 1m | 4600000 | On market | 13m |
| PVS | Pivotal Systems Corp | Kevin Landis | Buy | Nov 27 | 150,000 | 258000 | On market | 175,786 |
| BDA | Bod Australia | George Livery | Buy | Nov 27 | 300,000 | 159000 | Participation in capital raising | 300,000 |
| BDA | Bod Australia | Stephen Thompson | Buy | Nov 27 | 300,000 | 159000 | Participation in capital raising | 300,000 |
| ATS | Australis Oil & Gas | Jonathan Stewart | Buy | Nov 28 | 500,000 | 157445 | On market | 61m |
| D20 | Duxton Water | Peter Michell | Buy | Nov 23 | 193,462 | 251500 | Participation in capital raising | 503,462 |
| GGX | Gas2Grid | Patrick Sam Yue | Sell | Nov 29 | 6.5m | 195000 | Unpaid loan to company | 117.6m |
| MNY | Money 3 Corp | Scott Baldwin | Buy | Nov 28 | 250,000 | 372500 | Exercise options | 4.8m |
| PVS | Pivotal Systems Corp | Kevin Landis | Buy | Nov 28 | 55,749 | 100315 | On market | 231,535 |
| AX1 | Accent Group | Daniel Agostinelli | Buy | Nov 27 | 250,000 | 325800 | On market | 17m |
| SHH | Shree Minerals | Sanjay Loyalka | Buy | Nov 30 | 21.3m | 106831 | Shares in lieu of fees | 47m |
| FAS | FSA Group | Deborah Southon | Buy | Nov 29 | 100,000 | 106500 | On market | 13m |
| DEG | De Grey Mining | Andrew Beckwith | Buy | Nov 27 | 2m | 206667 | Exercise options | 6m |
| PPE | People Infrastructure | Glen Richards | Buy | Nov 27 | 300,000 | 570000 | On market | 800,000 |
